$Tesla(TSLA.US) performed quite well last night.

On one hand, if interest rates are cut earlier and by a larger margin than expected, it would indeed benefit Tesla's current sales in the U.S. However, in China's 200,000-300,000 RMB pure electric vehicle market, where new models are particularly abundant, Tesla, which has basically shown no highlights in model iterations this year, still faces significant pressure.

While Tesla has been rising continuously recently, after the AI trading phase ended, it has now shifted to Trump trading due to Musk's political stance. But for such speculative trading, Dolphin Research is more concerned about:

a. How far has Tesla's in-house battery research for electrification progressed, and will the strategy really be adjusted?

b. Just after layoffs, they're hiring again—is this back-and-forth really a good governance approach?

c. From the affordable Model 2 to Robotaxi, behind this shift in focus, given the rapid iteration in the current battery market, which is faster: Tesla's technological iteration speed or its strategic pivot speed?